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Warner Music Group Just Had Its Biggest Quarter Ever. Now It’s Reducing Staff by 10% to Invest More in Music

Warner Music Group will sell its media properties and reduce staff following the company's big quarterly earnings report, with plans to reinvest.

Much of that workforce reduction, Kyncl wrote, will come in the form of Warner’s owned and operated media properties — such as Uproxx and HipHopDX, which it acquired in August 2018 — as well as in corporate and support roles. We’ll turbocharge our efforts and investments, with additional focus on high growth geographies and vibrant genres, as well as using our data and insights to help original talents cut through the increasing noise, and taking a holistic global approach to maximizing the potential of their catalogs. This is one of our industry’s largest and most complex opportunities and one that we’re working on diligently, whether it’s new DSP deal structures or building superfan experiences to help artists connect directly with their most passionate followers.

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